The Internal Revenue Service announced on September 14 that it was "increasingly alarmed" about potentially abusive submissions for tax credits under the Employee Retention Credit (ERC), which is a tax credit passed in conjunction with relief promulgated under the CARES Act. Citing a backlog in reviewing current claims and warning about aggressive promoters pushing employers to take questionable tax positions, the IRS announced an aggressive crackdown on enforcement under the ERC program. The IRS guidance also provides for a longer processing time for current submissions as well as relief programs for ineligible employers that applied for the credit. Continue reading >